Hal_Al
Level 15

Investors & landlords

DanaB27's answer is correct, in most situations. 

 

However, if your tax liability is over $500* (line 12b of form 1040), there is a provision to allow you to claim a tuition credit, on your return.  However, it requires your parents to not claim you and lose the $500 other dependent credit. 

 

*$500 isn't a rule, it's just the point at which this technique becomes practical.